Sonatrach’s executives in race for anticipated retirement

date 2016/10/08 views 3744 comments 0
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icon-writer By: Imene Kimouche / English version: M. A.

Sonatrach’s CEO Amine Mazouzi and energy officials in Algeria face retirement problem as a large number of executives want to go into anticipated retirement.

A total of 60 percent of Sonatrach’s excuctives applied for retirement before a new law comes into force in 2017. This law prohibits anticipated and relative retirement.

According to an official at Sonatrach, the next challenge for the energy group is to maintain its skilled executives. “This retirement will cause a serious crisis starting from next year,” he said.

Earlier in September, Sonatrach released its results. It announced positive achievements in August, saying it produced 5.71 million tons of oil in January-August. An increase of 8 percent was reported during the same period in 2015.

 

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